2023 Commerce objectives and paper 2 for WASSCE(WAEC)
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Never in the history of education has access to educational resources been more available. This is a great
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is possible for any prospective WASSCE candidate to prepare for any exams that will be written in few weeks time.
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In this article, I have Written down 50 questions and answers including pdf which contain the
Commerce paper 2 from WASSCE (WAEC) for Commerce 2023.
This will guide you to understand the pattern WAEC follows when setting WASSCE questions for Commerce. Help
yourself by going through each question and answer to prepare yourself for the real exam. I wish
you success ahead.
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You can study the 50 (fifty) WASSCE Commerce past questions and answer for 2023 by checking
the content below or using the table of content below to navigate to the number of your choice
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Table of Contents
- WASSCE/WAEC Commerce (2023) Questions and Answers 1 - 10
- WASSCE/WAEC Commerce (2023) Questions and Answers 11 - 20
- WASSCE/WAEC Commerce (2023) Questions and Answers 21 - 30
- WASSCE/WAEC Commerce (2023) Questions and Answers 31 - 40
- WASSCE/WAEC Commerce (2023) Questions and Answers 41 - 50
- Download WASSCE/WAEC Commerce pdF (2023) Paper 2 (essay questions and answer 1 - 8)
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WASSCE/WAEC Commerce (2023) Questions and Answers 1 - 10
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1. Buying and selling products through a network of digital devices is
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(a) e-transfer
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(b) e-payment
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(c) e-mail
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(d) e-commerce
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The correct answer is: (d) e-commerce
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2. Which of the following is not a factor of production?
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(a) Staffing
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(b) Land
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(c) Labour
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(d) Capital
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The correct answer is: (a) Staffing
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3. Industrial, commercial and service are types of
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(a) Specialisation
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(b) Occupation
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(c) Manufacturing
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(d) Extraction
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The correct answer is: (b) Occupation
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4. The reward for capital is
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(a) Rent
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(b) Profit
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(c) Interest
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(d) Dividend
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The correct answer is: (b) Profit
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5. A document in which the internal regulations of a company are stated is
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(a) Partnership deed
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(b) Memorandum of Association
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(c) Certificate of Incorporation
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(d) Articles of Associations
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The correct answer is: (d) Articles of Associations
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6. A business that can obtain capital through the sale fo shares is a
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(a) Sole proprietorship
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(b) Public corporation
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(c) Public company
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(d) Cooperative society
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The correct answer is: (c) Public company
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7. A problem associated with barter is
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(a) Difficulty in collecting debt
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(b) Inability to measure what is to be exchanged
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(c) Inability to produced enough goods
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(d) Poor road network delaying transportation of goods
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The correct answer is: (b) Inability to measure what is to be exchanged
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8. Dissolution of a partnership could arise from
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(a) Fall in output
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(b) Death of a member
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(c) Non-access to capital
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(d) Increase in market share
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The correct answer is: (b) Death of a member
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9. A source of capital to a cooperative society is
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(a) Contribution
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(b) Debenture
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(c) Ordinary share
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(d) Retained profit
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The correct answer is: (a) Contribution
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10. Which of the following activities does not belong to the extractive industry?
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(a) Barbing
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(b) Drilling
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(c) Farming
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(d) Mining
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The correct answer is: (a) Barbing
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WASSCE/WAEC Commerce (2023) Questions and Answers 11 - 20
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11. The excess value of total assets over total liabilities is
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(a) Working capital
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(b) Paid up capital
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(c) Capital owned
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(d) Borrowed capital
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The correct answer is: (b) Paid up capital
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12. A voluntary association of businessmen who are not in the same line of business is a
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(a) Bureau de change
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(b) Trade union
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(c) Trade association
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(d) Chamber of commerce
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The correct answer is: (d) Chamber of commerce
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13. A similarity of a private and public company is that they
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(a) Are required to publish their final accounts
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(b) Have equal number of members
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(c) Receive certificate of incorporation
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(d) Sell shares on the stock exchange
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The correct answer is: (c) Receive certificate of incorporation
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14. Which of the following is not a type of security?
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(a) Debenture
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(b) Overdraft
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(c) Share
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**(d) Stock **
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The correct answer is: (b) Overdraft
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15. An organization that could strive for improvement in electricity and telephone services to users is
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(a) A consumers' association
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(b) An employers' association
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(c) A manufacturers' association
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(d) A trade association
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The correct answer is: (a) A consumers' association
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16. The business in which sale of goods involves use of invoice is a
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(a) Chain store
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(b) Mobile shop
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*(c) Shopping mall
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(d) Tied shop
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The correct answer is: (a) Chain store
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17. The arrangement for the conveyance of goods abroad is performed by the
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(a) Ports authority
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(b) Customs and excise authority
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(c) Chamber of commerce
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(d) Clearing and forwarding agents
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The correct answer is: (d) Clearing and forwarding agents
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18. One of the barriers to foreign trade is
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(a) Trade liberalisation
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(b) Removal of tariff
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(c) Memorandum of understanding
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(d) Imposition of embargo
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The correct answer is: (d) Imposition of embargo
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19. The term 2%/15 net 30 represents a
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(a) Cash discount
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(b) Quantity discount
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(c) Seasonal discount
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(d) Trade discount
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The correct answer is: (d) Trade discount
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20. The passing of laws by an arm of government to regulate society is the function of the
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Use the diagram below to answer questions 20 to 22
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(a) Warrant
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(b) Money
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(c) Cheques
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(d) Deposit slip
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The correct answer is: (c) Cheques
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WASSCE/WAEC Commerce (2023) Questions and Answers 21 - 30
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21. The two lines on the instrument shows that it is
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(a) Paid
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(b) Crossed
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(c) Cancelled
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(d) Altered
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The correct answer is: (b) Crossed
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22. The instrument will not be valid on
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(a) October 25, 2023
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(b) September 25, 2023
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(c) July 25, 2023
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(d) June 25, 2023
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The correct answer is: (d) June 25, 2023
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23. The rate at which a country's exports exchange for its imports is
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(a) Terms of trade
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(b) Terms of payment
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(c) Balance of trade
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(d) Balance of payment
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The correct answer is: (c) Balance of trade
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24. When a seller wishes to be paid before supplying goods, he would send the buyer a
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(a) Consular invoice
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(b) Consignment note
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(c) Credit note
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(d) Proforma invoice
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The correct answer is: (c) Credit note
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25. A bill of lading that is tagged clean means that the goods being delivered are
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(a) Paid
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(b) On credit
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(c) Not damaged
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(d) Duty free
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The correct answer is: (d) Duty free
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26. If opening and closing inventories of a business are D500 and D300 respectively and cost of sales is D1200, rate of turn over will be
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(a) 4.0 times
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(b) 3.0 times
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(c) 2.4 times
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(d) 1.5 times
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The correct answer is: (c) 2.4 times
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27. The function of money that makes it generally acceptable is
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(a) Medium of exchange
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(b) Standard of deferred payment
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(c) Store of value
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(d) Unit of account
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The correct answer is: (a) Medium of exchange
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28. A reduction in the value of a country's currency in relation to that of other countries is
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(a) Inflation
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(b) Deflation
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(c) Devaluation
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(d) Revaluation
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The correct answer is: (c) Devaluation
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29. The penalty paid for not off-loading goods at a port within the stipulated time is
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(a) Charge
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(b) Demurrage
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(c) Dock due
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(d) Freight
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The correct answer is: (d) Freight
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30. An advantage of road transport over other means of transport is that
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(a) Canteen services are provided during the course of transportation
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(b) Packing and loading is easy as activities are handled by experts
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(c) Specific vehicles could be used to carry certain loads
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(d) Terminal handling is eliminated by door-to-door delivery
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The correct answer is: (c) Specific vehicles could be used to carry certain loads
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WASSCE/WAEC Commerce (2023) Questions and Answers 31 - 40
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31. A factor to be considered in selecting a means of transporting fish is the
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(a) Supply of fish
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(b) Nature of the fish
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(c) Demand for fish
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(d) Cost of the fish
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The correct answer is: (b) Nature of the fish
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32. The bank that conducts research on an economy, thereby identifying obstacles to growth is growth is the
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(a) Central bank
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(b) Commercial bank
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(c) Development bank
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(d) Mortgage bank
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The correct answer is: (c) Development bank
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33. An advantage of advertising is that
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(a) Awareness is created on the existence of products
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(b) Distribution channels for products are improved
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(c) Prices of products are reduced
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(d) Quality of products is improved
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The correct answer is: (a) Awareness is created on the existence of products
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34. The means by which a firm obtains information before introducing new products is
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(a) Advertising
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(b) Market research
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(c) Market Segmentation
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(d) Promotion
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The correct answer is: (b) Market research
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35. A duty of the principl to his agent is to
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(a) Stop the sale of good in transit
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(b) Renegotiate agreements made by the agent
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(c) Pay the agent for services rendered
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(d) Disclose confidential information
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The correct answer is: (c) Pay the agent for services rendered
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36. An element of a valid contract is
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(a) Operation of law
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(b) Performance
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(c) Capacity to contract
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(d) Breach
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The correct answer is: (c) Capacity to contract
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37. An example of after-sales service is
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(a) Sorting and grading of goods
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(b) Provision of price list and terms
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(c) Granting of discount
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(d) Free replacement of parts
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The correct answer is: (a) Sorting and grading of goods
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38. Which oft the following modes of transport could be used to convey both liquid and gas?
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(a) Tramp
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(b) Tanker
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(c) Ferry
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(d) Aeroplane
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The correct answer is: (b) Tanker
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39. Advertising designed to sell more of a company's products than other brands is
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(a) Competitive
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(b) Indirect
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(c) Informative
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(d) Persuasive
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The correct answer is: (a) Competitive
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40. In a contract of sale, the amount deposited with the seller for a particular product by a buyer is
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(a) Acceptance
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(b) Counter offer
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(c) Consideration
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(d) Warranty
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The correct answer is: (c) Consideration
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WASSCE/WAEC Commerce (2023) Questions and Answers 41 - 50
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41. The use of brand names and trademarks is to
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(a) Control the supply of goods
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(b) Make after-sales service possible
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(c) Prevent imitation by competitors
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(d) Stabilise the prices of goods
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The correct answer is: (c) Prevent imitation by competitors
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42. A disadvantage of privatisation is that
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(a) There is decline in the supply of goods
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(b) There is less efficiency in the production of goods
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(c) Public interest outweighs the profit motive
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(d) Income is unevenly distributed
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The correct answer is: (d) Income is unevenly distributed
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43. Operating a state-owned enterprise with the intention of making more profit is
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(a) Commercialisation
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(b) Deregulation
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(c) Nationalisation
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(d) Privatisation
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The correct answer is: (a) Commercialisation
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44. The department that ensures that products are made available to consumers is
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(a) Finance
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(b) Marketing
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(c) Production
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(d) Purchases
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The correct answer is: (c) Production
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45. Which of the following is not a form of sales promotion?
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(a) Free samples
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(b) Demonsrations
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(c) Cash on delivery
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(d) Buy one get one free
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The correct answer is: (c) Cash on delivery
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46. Divesting goverment interest in a business to
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(a) Privatisation
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(b) Nationalisation
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(c) Deregulation
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(d) Commercialisation
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The correct answer is: (b) Nationalisation
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47. The management function that is concerned with coordinating business resources efficiently is
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(a) Controlling
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(b) Motivation
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(c) Planning
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(d) Organising
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The correct answer is: (c) Planning
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48. An organisational chart is used to
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(a) Determine the departmental objectives and targets
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(b) Implement policies on staff welfare
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(c) Measure variation on staff performance
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(d) Show the hierarchy of staff
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The correct answer is: (d) Show the hierarchy of staff
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49. Which of the following countries is not a member of the European Union?
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(a) Bolivia
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(b) Denmark
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(c) France
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(d) Greece
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The correct answer is: (a) Bolivia
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50. One of the aims of ECOWAS is to
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(a) Encourage foreign investments
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(b) Ensure production of quality goods
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(c) Improve transportation and communication
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(d) Promote privatisation policies
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The correct answer is: (c) Improve transportation and communication
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Download WASSCE/WAEC Commerce pdF (2023) Paper 2 (essay questions and answer 1 - 8)
We have provided a pdf where you can practice wassce Paper 2 for Commerce 2022. To download the
pdf right away,
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- wassce/waec past questions and answers for Commerce 2022
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